Web Extra: Burned By eBay

A long position in eBay looked like a hot trade but all it did was burn. So how does Joe Terranova recommend playing it now?

The Liquidator made the fateful call on November 24^th hoping that eBay would benefit as more shoppers chose to shop online.

”You have to look at e-commerce and say to yourself the dynamic surrounding the entire retail space has changed,” he said at the time. “Obviously that bodes well for Amazon but I think it bodes well for Ebay too.”

Unfortunately, this story doesn’t have a happy ending. Despite the popularity of online shopping broadly, eBay shares are down about 5% since Terranova said to get long.

What does he have to say about this stock now? Find out in this web extra. Watch the video now!

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Trader disclosure: On December 20, 2010, following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Seymour owns (AAPL), (BAC), (FXI); Terranova owns (CRM), (VRTS), (C), (UPL), (PEP), (GS), (OXY), (NKE); Terranova owns Gold puts; Adami owns (AGU), (C), (GS), (INTC), (MSFT), (NUE), (BTU); Adami's wife works at (MRK); Pete Najarian owns (BBY) calls; Pete Najarian owns (C); Pete Najarian owns (GE); Pete Najarian owns (MS); Pete Najarian owns (PFE); Pete Najarian owns (V) call spreads; Pete Najarian owns (YHOO)

For Joe Terranova
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JOE TERRANOVA FAST FIRE SOT
Terranova did not own eBay on 11/24/2010